Rocket Companies (NYSE: RKT) made its public debut Thursday morning, opening at $18 after being priced at $18.The company listed its shares on the NYSE under the ticker symbol RKT. Underwriters for the IPO includes Goldman Sachs, Morgan Stanley and Credit Suisse.This highly-anticipated debut comes after the IPO market cooled down since the spring. Last month, Rocket Companies said it had planned to raise as much as $3.8 billion by selling 150 million shares at a target offering price range of between $20 and $22.The IPO's proceeds will be used to finance business purchases and stock from Rocket's existing holding company, Rock Holdings Inc., owned by founder and majority shareholder Dan Gilbert.Related Link:Rocket Companies Prices IPO At Per Share: Here's Why It Marks A Paradigm Shift In Financial ServicesQuicken Loans Chairman Dan Gilbert. Photo by Emily Elconin.See more from Benzinga * Roku Reports Q2 Earnings Beat, Adds 3.2M Active Accounts * Why Alterity's Stock Is Trading Lower Today * Why Zimmer Biomet's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
from Yahoo Finance https://ift.tt/3a13g7U
Leave a Reply